A "consumer surplus" is the value of a product that people buy beyond the price they pay for it. Amazon has added, conservatively speaking, $1 trillion of consumer surplus for all of the tens of millions of people in the United States and around the world who go online and click to buy products on Amazon. But as he has correctly pointed out, it also means that he has collectively created some $850 billion of wealth for all of the millions of people who own Amazon stock - which is probably close to one-third of all Americans. He owns perhaps 15 percent of the stock, which would mean his net worth is somewhere near $150 billion. Amazon's stock is now worth close to $1 trillion.
Elizabeth Warren, a Massachusetts Democrat, calls their wealth "obscene."Īmazon founder Jeff Bezos has attained a wealth that exceeds some countries. It's clear why the superrich are a tempting target to, as Biden puts it, "pay their fair share." We have billionaires with almost unfathomable riches. Does anyone really believe that any of these new schemes that President Joe Biden conjures up every few days to "tax the rich" will cause Bill Gates, Elon Musk, or Warren Buffett to pay more taxes? (Photo credit: Getty/Yuri Cortez/AFP)īe honest. Victims also should get a copy of their credit report by calling 87, Gainey said, and dispute any fraudulent transactions.A man proffers dollar bills. If you’ve been victimized by this or any other scam, change passwords on your email, banking and other personal accounts, and visit to create a recovery plan that fits your situation, Gainey said.įile a complaint at FTC.gov/complaint and at your local police department, she said, and get a copy of the report that you can provide to creditors and credit agencies.
If you’re contacted by someone claiming to be an Amazon representative about a refund you’re not expecting, she said, hang up and contact Amazon directly through their website to file a report. What’s even more troubling is that people who follow all of those steps compromise their bank and Amazon accounts, their device and all of the personal information it contains.Įmalie Gainey, a spokeswoman for state Attorney General Maura Healey, said the AG’s office has received “several” complaints that fit the pattern of this scam.Īmazon will never ask for your personal information to issue a refund and will never request remote access to your device, Gainey said.
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